Blockchain-based method and system for specifying the recipient of an electronic communication
A method and corresponding system is presented for controlling a blockchain transaction output and/or specifying the recipient of the output. It also provides a method of controlling and/or generating an electronic communication. The unlocking script is provided in order to spend an output from a further transaction (Tx 2 ) on the blockchain. The input of the transaction (Tx 1 ) and/or the output of the further transaction (Tx 2 ) may be associated with a tokenised asset represented on, or referenced via, the blockchain. The notification address may be associated with an asset or resource represented on the blockchain, or a controller of an asset or resource represented on the blockchain. The notification address may be a network address, a cryptographic key, a uniform resource locator (URI), email address or any other address or identifier which can be represented in the metadata of a transaction script and used as a destination for an electronic communication.
1. A method comprising:
traversing a blockchain transaction history to identify a first transaction comprising a current unspent transaction output (UTXO);
reviewing a previous transaction to the first transaction to determine a current owner of an asset associated with the current UTXO, the previous transaction comprising a hash of a redeem script;
generating a distribution transaction for the current UTXO, the distribution transaction based at least in part on the hash of the redeem script of the previous transaction; and
broadcasting the distribution transaction, wherein the distribution transaction can only be signed and completed by the current owner of the asset associated with the current UTXO, wherein the distribution transaction is broadcasted through a broadcast channel separate to the blockchain, and the broadcast channel is established by sending an electronic notification to a notification address which is provided as metadata within an unlocking script of an input of the previous transaction.
2. The method according to claim 1 , wherein traversing the blockchain comprises starting from an issuance transaction.
3. The method according to claim 1 , further comprising:
completing, by the current owner of the asset associated with the current UTXO, the distribution transaction by signing an input of the distribution transaction.
4. The method according to claim 1 , wherein the electronic notification comprises:
the distribution transaction; and/or
information relating to a location of, or means of access to, the distribution transaction.
5. The method according to claim 1 , wherein the notification address is provided as a parameter in the unlocking script of the previous transaction to the first transaction.
6. The method according to claim 1 , further comprising:
providing, in the distribution transaction, a hash of a second redeem script to ensure that a notification address will be provided in the unlocking script.
7. The method according to claim 6 , wherein the hash of the second redeem script comprises a value indicating how many notification addresses must be supplied by the unlocking script.
8. The method according to claim 1 , wherein a plurality of notification addresses is provided within the unlocking script.
9. The method according to claim 1 , wherein the notification address is a network address, a cryptographic key, a uniform resource locator (URI), email address or any other address or identifier that can be represented in the metadata of a script and used as a destination for an electronic communication.
10. The method according to claim 1 , further comprising:
detecting a designated or predetermined event; and
sending the electronic notification in response to detection of the event.
11. The method according to claim 1 , wherein one or more operations of the method are executed by an automated computing resource or agent.
12. A computer-implemented system comprising a processor and memory, the memory storing computer executable instructions, that when executed, cause the processor to:
traverse a blockchain transaction history to identify a first transaction comprising a current unspent transaction output (UTXO);
review a previous transaction to the first transaction to determine a current owner of an asset associated with the current UTXO, the previous transaction comprising a hash of a redeem script;
generate a distribution transaction for the current UTXO, the distribution transaction based at least in part on the redeem script of the previous transaction; and
broadcast the distribution transaction, wherein the distribution transaction can only be signed and completed by the current owner of the asset associated with the current UTXO, wherein the distribution transaction is broadcasted through a broadcast channel separate to the blockchain, and the broadcast channel is established by sending an electronic notification to a notification address which is provided as metadata within an unlocking script of an input of the previous transaction.
13. The system according to claim 12 , wherein the system comprises:
a blockchain; and
at least one autonomous computing agent arranged and configured to:
traverse the blockchain; and/or
generate and or send the electronic notification.